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Quarterly finance report: ad valorem and sales tax collections outperform projections; county used about $4 million of fund balance
Summary
Finance director Kimberly Hunnicutt reported that FY25 ad valorem tax collections exceeded the budget by about $2.9 million and sales-tax receipts outpaced projections by 8%; the county transferred roughly $11 million to the debt fund during the year and ended up using about $4 million of fund balance rather than the $11 million anticipated in the
Kimberly Hunnicutt, Harnett County finance director, presented the county’s fiscal update for the first quarter and summarized the fiscal year ending 2025 during the Oct. 4 meeting.
Hunnicutt reported that ad valorem tax collections for the year exceeded the budget by $2.9 million and were about 7% higher than the prior fiscal year. Sales-tax receipts exceeded projections by 8% and were 7% ahead of 2024, she said. Solid-waste revenues were up about 21% year over year; Harnett Regional’s revenue…
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